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I am a singapore PR, my dad who is also SPR used my name to jointly purchase a HDB in the past when it was allowed.

Can I purchase a Condo without having to sell off the HDB and will I be attracting ABSD based on the 2nd purchase or 1st purchase in that case? If so would it be better if I sold off the current HDB first to reduce the ABSD required?

Also would I be required to sell off the HDB in the future only upon receiving keys or TOP? In that case I can aim for condos that TOP in the future so that there is sufficient time to sell the HDB.
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2 Answers

Ivan Ng
Replied
Hi,

For PR households holding HDB, they are required to sell their hdb away once they collect keys to their condo. ABSD depends on the purchaser profile. If you buy without selling first, ABSD will be incurred. What are your plans & which project are you keen on? Thanks and hope to discuss further and value-add.

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
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YT Tan (陈永达)
Replied
Good morning buyer,

As SPR household HDB owner, it's mandatory for you to sell off your HDB within 6 months from resale purchase completion or TOP for new condos.

It will be advisable for you to sell your HDB first before buying to avoid paying excessive ABSD.

Buy first then sell: 10% ABSD
Sell first then buy: 5% ABSD

You will have saved on $50k on a $1m property purchase.

Hope my explanation helps!

If you need any assistance or advice in your property purchase, feel free to contact me. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
(W): www.propertyavenue.com.sg Read More
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